HK Stock Market Move | CHINFMINING (01258) drops by over 6% again, Qiib First Mining South-East Mine temporarily stops production, lowering copper production guidance to 140,000 tons.

CHINFMINING (01258) fell by over 6%, dropping 5.82% to HK$13.26 as of press time, with a total turnover of HK$75.83 million. On the news front, CHINFMINING announced that its subsidiary Chambishi Southeast Mine of China Nonferrous Mining has completed all repair work on the deputy shafts since the commencement of rehabilitation in September this year, with the main shaft currently undergoing repairs. It is expected that all repair work will be completed by mid-December this year, with production at Chambishi Southeast Mine temporarily suspended during construction. As a result, the company has adjusted its full-year production plan for 2025, reducing the copper production from its own mines from 160,000 tons to 140,000 tons. Additionally, data released overnight showed conflicting signals in the U.S. job market, with an unexpectedly high increase of 119,000 new jobs but the unemployment rate rising to a four-year high of 4.4%, and significant downward revisions to the previous two months' employment numbers. This is the final employment report that the Federal Reserve will see before its December policy meeting, which could make the decision more difficult. Following the data release, copper prices weakened.